Quality rules over price, says survey

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Product and service are the most important factors in determining which provider advisers would reco...

Product and service are the most important factors in determining which provider advisers would recommend business protection clients, according to the results of a survey conducted by Friends Provident at its recent online seminar.

Nearly half of respondents (48%) said that product was the most important factor in determining provider, followed by service (33%), with price being a relatively smaller (17%) consideration.

Mark Jones, head of protection marketing at the provider said the survey highlighted the differences between the business and individual markets. Jones said it reflected the fact that business protection clients are "cash rich but time poor", meaning that IFAs selling this product were more demanding of high levels of service.

He added: 'The continued interest in online seminars is fulfilling a need for advisers keen to find new revenue streams.'

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